Collectors Universe Exits Jewelry Grading Businesses To Focus Resources on its Collectibles Grading and Services Businesses
NEWPORT BEACH, Calif.,
Haynes continued, "Our collectibles grading businesses are fundamentally healthy with strong market positions and positive cash flows and we are continuing to lower costs and increase efficiencies in these areas. Importantly, the Company's overall financial condition remains excellent."
Cautionary Statements Regarding Forward Looking Information
This news release contains statements regarding our expectations, views and beliefs about our future financial performance that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Due to a number of risks and uncertainties to which our business is subject, our future financial performance may differ, possibly materially, from our expected financial performance as set forth in the forward looking statements contained in this news release. Those risks and uncertainties include, but are not limited to, the risk that the current economic recession will worsen or continue for an extended period of time or that changes in conditions in the collectibles markets in which we operate, such as a possible decline in the popularity of some high-end collectibles could reduce, possibly significantly, the volume of grading submissions to us and, therefore, the grading fees we generate; the risk that we will not succeed in growing our collectibles businesses significantly, which could limit the extent to which we will be able to improve margins and increase profits; the expenses of discontinuing the jewelry businesses, which will adversely impact, in particular, our operating results during the balance of the current fiscal year; and the seasonality of our business which can cause fluctuations in quarterly operating results and quarterly cash flows.
Additional information regarding these risks and information regarding other risks and uncertainties to which our business is subject is contained in our Annual Report on Form 10-K for our fiscal year ended
Chief Financial Officer